Tuesday - Did it Again!

Took a big picture divergence set up off the mean pivot (PP) and the high for the day - 1min and 5 min was extended. So was a good fade/reversal set-up.

however it meandered for 10+ minutes and as it flirted with my stop a few times I decied to take 1 tick as it teted my nerve.

Once again like last night i soon as i moved my profit target and it was filled the market just zoomed in the direction of $$ and would have delivered my full target.

i am reading an NLP book at the moment to help me with this challenge - i think it is more than programming maybe i need a new board - ho ho - stop it Tarbie!.

Monday - Mixed Day

i am currently forward testing currency trading using Elliot waves and momentum - when I get more time I will post some trades.

Last Thursday had a full stop early on and called it a night - no regrets. It was around the Obama announcement about banks and the market plummeted 15+ points unfortunately I was on the other side long.

Had two trades - first took my stop at 1.5 points just only to reverse and deliver - don't you just hate that! Second pictured above was a divergence on price/stochastic and macd at the previous close level of support. Committed the awful crime of panicking when i was in the green and took early profit at 3 ticks - went on as you can to give full 2 points.

All in all pretty poor performance - need to let profit run. Could have been up $100 but ended down $100.

Won't trade FOMC day on Wednesday - been caned too many times.

Wednesday Diary - Back at it

First day back after a few days rest and reflection on the performance of last week. i decided to get more mechanical on my trade entry to try and avoid the state i was in last week when i lost a few a hundred dollars as i was shootign from the hip.

Last night i took a trade off the 62% that was confirming on every one of my charts tick or volume.

There was price amd indicator divergence everywhere and at strong support but i guess the market has no respect for that.

Regarless of being down $300 I was happy with my focused performance. Got to get past the stops to get the w$nn$ing trade!

Tuesday - Caned in the First 20 Minutes

Decided my bias was long prior to market open and positioned myself early on some price/stochastic divergences. The market had stretched overnight and my read was that it would pullback some of this loss.

The 1 minute and 5 minute charts were showing plenty of room to come back to their 21MA. As my early positions stopped during the pull back to 1132.5 i guess panic set in and i believed I had read it wrong and short positions were the go.

Of course when emotions kick in like this then the money starts to flow out of the pocket into the market.

As i watch the market bounce off the 50% fib retracement (1137.5) i take some heart that my early bias was correct - just my execution was rubbish.

A few hundred dollars down and off to bed really pi$$ed with myself. I now need to get back into it tomorrow and try and recover for the week.

Monday Diary - Ham Sandwich

Trading real money - Took 3 scalp trades last night to get a $100 confidence boost to the start of the week.

In line with the 5 min showing a gap to the 21MA - I took a short after market open off the 2584V at 21MA resistance. Quickly followed by a quick counter trend long off stoch and MACD divergence - also approaching support at previous close.

Only regret is hesitating just above previous close at 9am (my chart time) on faltering buyers - check out dojis on 1597V above. My concern was the previous close at 1141.5 providing support.

Was happy with my focus - just waiting for some pace and price movement to get some outlier days.

Back into It

Didn't trade much last week - when i did I was in SIM. Back for real this week.Hope the pace picks up.

Tuesday Diary - Poor Execution

At previous afternoon resistance in pre-market put 3 contracts short for +4 points - had stop too tight on 1 contract - should have been +6.

The Day after a trend provides great opportunies in pre-market and early in the cash session - early oscillations between previous late day support restance.

I was glad to be still in my simulation account today as my execution was less than perfect.

I faded the extension towards the previous day resisatnce too early and got stopped on 3 contracts. What was worse was not getting back in at 1032 level - bearish divergence everywhere and stochastics well overbought!

I think i will stay in SIM until we get some volume back and I over my UK jetlag.

Monday Diary - Solid Start to the New Year

After a long break over the festive season I began my 2010 trading in simulation to get my head back in the game. The first set up was the early bullish action on 1 minmute consolidation to trend support and my entry was timed used $TICK and the volume chart below at trend support. Note the bullish stochastic divergence with price - price higher low and stochastic lower low.

The second sequence was at the end of the day during the late day oscillations. My youngest son is still jet lagged and i was helping him get to sleep - i normally don't trade this time slot. In reality i was mearly passing the time in a 2.5 point channel and only acheived breakeven.

Looking forward to trading aggressively this year to increase my capital by $100k over the year - will put my hard earned money on the line sometime this week.